Leeds chairman Ken Bates has stressed that he does not want to sell the club.

Having battled hard to remain in charge of Leeds over the summer, Bates is now looking for fresh investment.

It has been reported that he is negotiations with former Newcastle chairman Freddy Shepherd about selling a stake in the club.

But Bates has told interested parties that he will be retaining at least 51 per cent of the club's shares.

"There are plenty of would-be investors sniffing around," Bates told the Daily Mirror.

"It could be tempting to take the money and run but the possibility is not even in my mind."

Leeds chief executive Shaun Harvey added that the club was not looking for a change of ownership.

He explained: "We've previously stated that investment would be welcomed. A takeover is not an option."